NEW YORK--(BUSINESS WIRE)--On October 17, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA+ with a Stable Outlook to the Metropolitan Transportation Revenue Variable Rate Refunding Bonds, Subseries 2002G-1f (LIBOR FRTN) and Transportation Revenue Variable Rate Bonds, Subseries 2005D-1 (LIBOR FRTN).
Concurrently, KBRA affirmed the long-term rating of AA+ with a Stable Outlook on MTA’s outstanding Transportation Revenue Bonds. KBRA also affirmed the short-term rating on MTA’s outstanding Transportation Revenue Bond Anticipation Notes, Series 2017C, 2018A, 2018B, and 2018C.
Issuer: Metropolitan Transportation Authority | ||||||
Assigned | ||||||
Ratings | Outlook | |||||
Transportation Revenue Variable Rate Refunding Bonds, Subseries 2002G-1f (LIBOR Floating Rate Tender Notes) | AA+ | Stable | ||||
Transportation Revenue Variable Rate Bonds, Subseries 2005D-1
(LIBOR Floating Rate Tender Notes) |
AA+ | Stable | ||||
Affirmed | ||||||
Ratings | Outlook | |||||
Transportation Revenue Bonds | AA+ | Stable | ||||
Transportation Revenue Bond Anticipation Notes, Series 2017C (partially maturing 2/15/2019 & 5/15/2019) |
K1+ | n/a | ||||
Transportation Revenue Bond Anticipation Notes, Series 2018A (maturing 8/15/2019) |
K1+ | n/a | ||||
Transportation Revenue Bond Anticipation Notes, Series 2018B
Subseries 2018B-1 (maturing 5/15/2020) |
K1+ | n/a | ||||
Transportation Revenue Bond Anticipation Notes, Series 2018B
Subseries 2018B-2 (maturing 5/15/2021) |
K1+ | n/a | ||||
Transportation Revenue Bond Anticipation Notes, Series 2018C-1 (maturing 9/1/2020) |
K1+ | n/a | ||||
Transportation Revenue Bond Anticipation Notes, Series 2018C-2 (maturing 9/1/2021) |
K1+ | n/a | ||||
For mapping of the long-term rating to the short-term rating, please refer to the short-term KBRA Rating Scale. |
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Methodology:
U.S. Public Toll Roads, Bridges & Tunnels Revenue Bond Rating Methodology
To view the report, click here.
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.